Manchester City are set to snap up Newcastle United striker Michael Owen.

The Mail on Sunday says City are prepared to match Owen's earnings of £135,000 a week, which includes image rights, if they can agree a knockdown price for the England striker.

Toon owner Ashley is understood to be eager to recoup some of the £16m Newcastle paid Real Madrid for Owen three years ago and would rather sell him now for around £4m than lose him for nothing in the summer.